May 21, 2012

BANK OF AMERICA Chart Analysis

  • Bank of america has fallen below 200 SMA which is bad news for bulls of BAC.
  • Daily chart continues to fall down in a channel.
  • Price has also fallen below the golden ratio. Closing below the golden ratio and 200 SMA Could strengthen bears further to extend the fall.
  • Bulls of BAC need to get back above 200 SMA to minimize the damage.

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